Celestial Acquisition has a Cash Ratio of 239.50. It generally indicates that the company is able to cover all short-term debt and still have cash remaining.
The historical rank and industry rank for Celestial Acquisition's Cash Ratio or its related term are showing as below:
TSXV:CES.P'
s Cash Ratio Range Over the Past 10 Years
Min: 26.63 Med: 52.88 Max: 536
Current: 239.5
During the past 3 years, Celestial Acquisition's highest Cash Ratio was 536.00. The lowest was 26.63. And the median was 52.88.
TSXV:CES.P's Cash Ratio is ranked better than 83.66% of 361
companies
in the Diversified Financial Services industry
Industry Median: 3.81
vs TSXV:CES.P: 239.50
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Celestial Acquisition's Cash Ratio
For the Shell Companies subindustry, Celestial Acquisition's Cash Ratio, along with its competitors' market caps and Cash Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Celestial Acquisition's Cash Ratio Distribution in the Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Celestial Acquisition's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Celestial Acquisition's Cash Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Celestial Acquisition (TSXV:CES.P) Cash Ratio Explanation
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
Celestial Acquisition Cash Ratio Related Terms
Thank you for viewing the detailed overview of Celestial Acquisition's Cash Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
181 Bay Street, Suite 1800, Toronto, ON, CAN, M5J 2T9
Website
Celestial Acquisition Corp is a capital pool company. The principal business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction (as defined under the policies of the Exchange) (the "QT"). The Corporation has not commenced commercial operations and has no assets other than cash. Company operates single segment.
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